Following the fall seen last week, stocks could fall further in early Monday trading. Major index futures are currently market, The Dow futures are down 693 points.
The momentum of Wall Street’s decline comes from traders waiting for the Federal Reserve Board’s long-awaited monetary policy announcement on Wednesday.
The Federal Reserve Board is widely expected to leave monetary policy unchanged, but it can address the outlook for asset purchase programs.
Minutes of the Federal Reserve Board’s last meeting showed that the central bank was ready to begin curtailing asset purchases by the end of the year.
Traders may pay close attention to the wording of the post-conference statement, with some recent disappointing economic data suggesting that the Federal Reserve Board may push the plan back.
The National Association of Home Builders will publish a report on the trust of home builders in September, shortly after the transaction begins. The housing market index is expected to remain unchanged at 75.
Following the narrow mixed closing price seen on Thursday, stocks showed a marked downtrend during trading on Friday. After closing Thursday’s trading on the other side of the unchanged line, all major averages slipped firmly into the negative territory.
In the afternoon trading, the main average remained almost flat and the day ended in a solid deficit. The Dow fell 166.44 points (0.5%) to 34,584.88, the Nasdaq fell 137.96 points (0.9%) to 15,043.97, and the S & P 500 fell 40.76 points (0.9%) to 4,432.99.
All major averages fell that week as the day fell. The Dow fell 0.1%, while the Nasdaq and S & P 500 fell 0.5% and 0.6%, respectively.
In foreign trade, stock markets across the Asia-Pacific region almost fell, although some major markets were closed due to holidays. Hong Kong’s Hang Seng Index plunged 3.3%, while Australia’s S & P / ASX 200 Index fell 2.1%.
Major European markets are also showing a significant downtrend on the day. The UK’s FTSE 100 index plummeted 1.9%, while the French CAC 40 index and the German DAX index fell 2.7% and 2.9%, respectively.
In commodity trading, crude oil futures fell from $ 1.80 to $ 70.17 after falling from $ 0.64 to $ 71.97 a barrel last Friday. Meanwhile, gold futures have risen from $ 5.90 to $ 1,757.30 per ounce after falling from $ 5.30 to $ 1,751.40 per ounce in the previous session.
On the currency side, the US dollar is trading at 109.53 yen, compared to 109.93 yen at the end of the New York trading on Friday. The dollar is trading at $ 1.1711 against the euro, compared to $ 1.1725 last Friday.
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U.S. stocks are likely to fall sharply in early trading
Source link U.S. stocks are likely to fall sharply in early trading